Research On Regulation Of The Voluntary Accounting Information Disclosure Of Listed Companies Of China

Accounting information disclosure will help alleviate the information asymmetry among participants of the capital market and promote the effective allocation of resources. As an information disclosure corresponding to the mandatory information disclosure, voluntary disclosure to the voluntarily as the main feature. Choice of the voluntary disclosure and the number of disclosure are decided by the listed companies. From this point of view, regulation of the voluntary disclosure seem non-feasible or non-necessary. However, if from another perspective, the reason for voluntary disclosure is that it can enhance the reputation and enhance the image of listed companies, can improve the relationship between listed companies and investors and can contribute to the improvement of structure. In the perspective of the social impact, reliable voluntary disclosure can reduce the Investors'cost of information search, reduce financing costs and increased capital mobility. Voluntary disclosure can also save the cost of social regulation and improve the environmental of disclosure.Nowadays, current situation is the quality of voluntary disclosure of listed companies of China isn't high and the will is weak. Although reasons is complex, the cause of regulation is more important. First, policy of encouraging and guiding isn't enough, the listed companies think disclosure and no disclosure is the same. Second, the supervision department of China for voluntary disclosure just provides a basic attitude, its content temporarily not specified. At last, the supervision department of China have not enough attention of the quality problem of voluntary disclosure.Generally, main problems are guiding system,standard of contentsand the quality guarantee, etc. So this article from the regulatory system and the regulatory body proposed the regulatory measures.This article is concerned at this stage, in addition to promote and encourage the disclosure, the protection mechanism should be established to increase voluntary disclosure will. But in the long run, the content of disclose must be standardized, especially for some low-quality companies of spreading false information to deceive investors, regulators must punish them. Otherwise the credibility of voluntary disclosure will be destroyed and the trust of investors will down. As reform and development of market of China, there will be more companies choose voluntary disclosure. Regulators will fully prepare in theory, in technology and in policy, encourage companies to disclose and punish speculation. Through the normal way of research, basing on the concepts of regulation of the voluntary accounting information disclosure of the listed companies, asymmetrical theory and game theory, this article begins with analyzing the problems of low level of regulation of the voluntary accounting information disclosure of China. Then, through analyzing the causes of the main problems of regulation of the voluntary disclosure, this article have found the following reasons that the system of regulation is not perfect, the function of the system of regulation is not perfect and the causes of the voluntary disclosure of itself. According to particular situation of China, by drawing on the experience of the system of regulation of the voluntary accounting information disclosure of listed companies of US and so on, it bears great significance to develop and perfect the system of regulation of the voluntary accounting information disclosure of listed companies of China through analyzing the history of the voluntary accounting information disclosure of US and so on. Thus, this article uses their experience for reference to serve and perfect the system of regulation of the voluntary accounting information disclosure of China. Through above-mentioned analysis and using the experience of other countries for reference, in the final part of the thesis, the way to deal with the situation that regulation of the voluntary accounting information disclosure of China has gradually been formed. So this article from the regulatory system and the regulatory body proposed the regulatory measures. Through putting forward a number of proposal, analyses and solutions to the problems systematically, the purpose of this article is to keep up perfecting the system of regulation of the voluntary accounting information disclosure of listed companies of China and improve the quality of the voluntary accounting information of the listed companies, which realize the target of supervisory control to protect investors'interest, so that the standard and effective operation of the stock market of China is to be guaranteed.